…corporate initiatives in the world of business

Honey Badger Exploration Advancing LG Diamonds Project

A gold and diamond exploration enterprise, Honey Badger Exploration has properties in the Provinces of Quebec and British Columbia (B.C.). The Company has its LG Diamond Project in the James Bay area of Quebec and its Limonite Creek Project in B.C. Established in 1992, Honey Badger Exploration has its head office in Toronto, Ontario.

The Company’s President and Chief Executive Officer (CEO) is Mr. Quentin Yarie, P. Geo. Mr. Yarie is an experienced geophysicist. In addition, he is a successful entrepreneur. He has more than two decades of experience in the mining and environmental/engineering sectors. He has been involved in major gold discoveries. This includes the Canadian Malartic Mine.

Mr. Craig Scherba, P. Geol is Vice President of Exploration & Chief Geologist at Honey Badger. Mr. Scherba’s expertise includes supervising large Canadian and international exploration. At present, he is Vice President of Exploration of MacDonald Mines Exploration Ltd.; Red Pine Exploration, Inc.; as well as Honey Badger Exploration. He was a vital member of the exploration team that developed Nevsun Resources’ world-class gold, copper and zinc Bisha deposit in Eritrea.

Honey Badger Exploration is presently centered on the advancement of the LG Diamond Project. This Project consists of 55 claims encompassing 2,765 hectares. The LG Diamond Project is in the same diamond-rich producing zone that hosts Stornoway Diamond’s Renard Project. This past July, Stornoway Diamond announced that processing of ore started at the Renard Diamond Project (Mineral Reserve of 17.9 million carats).

The LG Diamond Project features 9 claim blocks centered on circular magnetic anomalies. Each of these could be potential kimberlite pipes. Lake sediments close to the magnetic anomalies contain kimberlite indicators. Moreover, the local geological environment is favorable for diamondiferous kimberlites. Honey Badger has exploration agreements in place with local First Nations (Cree of the Eeyou Istchee).

In January 2016, the Company announced that it staked ten additional claims (2 blocks) in the LG Diamond Project. Geophysical modelling and the gathering of historic work revealed other promising magnetic anomalies interpreted as possible kimberlites.

In addition, Honey Badger announced in May that it entered into an agreement, subject to certain terms and conditions, to acquire 29 claims situated about 20 kilometers’ southeast of Wemindji, in the James Bay region of Quebec. The claims total 1,388 hectares. These claims are in the same fertile kimberlite area as Honey Badger’s LG Diamond Project.

Also, in June, Honey Badger Exploration announced that it completed a helicopter magnetic geophysical survey and a preliminary sampling program on its LG Diamond Project. The new geophysical survey identified many isolated circular anomalies. The anomalies are along interpreted deep major liniments.

These could represent conduits or pathways for kimberlites. Kimberlite is an igneous rock. It is formed from the cooling of molten magma. Diamonds develop in the molten rock of the Earth’s mantle. Mighty magma eruptions have brought diamonds to the Earth’s surface, creating kimberlite pipes.

Kimberlite in Quebec can contain high-purity (high price per carat) economic diamond concentrations. Circular magnetic anomalies in northern Quebec define a potential diamond camp similar in size to the Lac de Gras kimberlite field in the Northwest Territories (NWT).

The next initiatives for Honey Badger Exploration regarding the LG Diamond Project include prioritization of the magnetic anomalies; completing a detailed magnetic survey of the prioritized targets, and conducting a drill program of the prioritized targets.

Regarding Honey Badger’s Limonite Creek Project, it has copper and gold exploration targets. This project is a 100 percent owned 1050-hectare property in the westernmost portion of the Telkwa Pass, approximately 50 kilometers southwest of Smithers, B.C.